April 4, 2003 |
General Mills Inc., Kraft Foods Inc., H.J. Heinz Co. and Sara Lee Corp. said they were contacted by the Securities and Exchange Commission as part of an investigation into Royal Ahold's distribution business. The SEC has been looking into the accounting practices of Ahold's U.S. Foodservice, including how it accounted for discounts from suppliers.
July 12, 1996
Hariston Corp.'s Polish affiliate sold its 49% interest in eight supermarkets in Poland to a joint venture led by Royal Ahold N.V. for $9.4 million. Terms and the expected completion date of the transaction were not disclosed. Hariston, a holding company, said it owns about 1.6 million Polish Life Improvement S.A. shares and holds a $7 million note, currently in default, that is secured by a collateral interest in another 1.4 million shares.
March 29, 1996 |
Royal Ahold expanded its U.S. supermarket presence Thursday in a surprising $2.9-billion deal to buy its sixth chain--Stop & Shop, the biggest grocery retailer in New England. The proposed merger, which requires regulatory approval, would make Amsterdam-based Royal Ahold one of the top five supermarket operators in the United States. The company already owns Tops, Finast, Edwards, Giant Food Stores and Bi-Lo.
April 8, 2003 |
Sara Lee Corp., the maker of baked goods and Ball Park hot dogs, said Monday that it suspended three salespeople the company said helped Royal Ahold's U.S. Foodservice unit inflate revenue. The workers certified inaccurate information Ahold had given its auditor Deloitte & Touche regarding rebates for products distributed to restaurants and cafeterias, said Sara Lee, a vendor of wholesaler U.S. Foodservice. The Securities and Exchange Commission is investigating how U.S.
July 17, 2001 |
Peapod Inc. shares surged after Dutch supermarket giant Royal Ahold announced plans to buy the rest of the online grocer for $2.15 a share, or $35 million in cash. Royal Ahold already holds a 42% stake in the online grocer. Peapod says it's making money in some markets and is on track for overall profitability in 2003. The company delivers groceries in metropolitan Chicago; Boston; southern Connecticut; Long Island, N.Y.; and Washington, D.C. Shares of Skokie, Ill.
July 29, 2004 |
Two former executives of a U.S. subsidiary of supermarket giant Royal Ahold pleaded not guilty to conspiring to inflate the company's earnings. Former U.S. Foodservice Inc. Chief Financial Officer Michael Resnick and former Chief Marketing Officer Mark Kaiser entered the pleas in Manhattan federal court. On Tuesday, federal prosecutors accused the pair of working together to inflate the company's earnings by $800 million from 2000 to 2003 by reporting fake rebates from suppliers.